As you might remember, the huge global macro fund Caxton Associates hired a new economist to run a significant portion of their funds earlier this week.
When a hedge fund forms a strategic partnership with another, the assumption is that it wants to diversify and gain access to some new technology or strategy. So the question was how and if Wadhwani would challenge the role of Caxton’s current head economist, John Makin. UPDATE: Makin is still at Caxton.
To speculate on that, we checked out what Makin, who freqeuntly comments in the press, has been saying lately.
In mid April, he told Bloomberg he expects the debt ceiling issue to be solved (they’ll raise it). But what’s more interesting is the work he’s doing at Caxton. In February, Caxton sent investors the following commentary on the economy. We posted a portion of it earlier this week, but a couple of you wanted to see the whole thing. So here it is.